Strategy. The Adviser seeks a combination of above average current income and long-term capital appreciation by investing primarily in equity securities of companies in the U.S. real estate industry, including real estate investment trusts (REITs). The Fund focuses on REITs as well as real estate operating companies (REOCs) that invest in a variety of property types and regions. Under normal circumstances, at least 80% of the Funds assets will be invested in equity securities of companies in the U.S. real estate industry. This policy may be changed without shareholder approval; however, you would be notified upon 60 days notice in writing of any changes. The Adviser actively manages the Fund using a combination of bottom-up and top-down methodologies. The Advisers proprietary … Show more… The Adviser seeks a combination of above average current income and long-term capital appreciation by investing primarily in equity securities of companies in the U.S. real estate industry, including real estate investment trusts (REITs). The Fund focuses on REITs as well as real estate operating companies (REOCs) that invest in a variety of property types and regions. Under normal circumstances, at least 80% of the Funds assets will be invested in equity securities of companies in the U.S. real estate industry. This policy may be changed without shareholder approval; however, you would be notified upon 60 days notice in writing of any changes. The Adviser actively manages the Fund using a combination of bottom-up and top-down methodologies. The Advisers proprietary models drive the bottom-up value-driven approach for stock selection, which is utilized to identify those companies that the Adviser determines represent the best value relative to their underlying assets and earnings. Analysts will assess real estate specific factors, broader equity factors, as well as environmental, social and governance (ESG) ?factors in their fundamental analysis in order to calculate appropriate valuation metrics. Top-down considerations are incorporated into the portfolio construction process, and the Adviser seeks to achieve exposure across sectors and integrate forecasted fundamental inflections and macroeconomic considerations, among other factors. When deemed by the Adviser to be relevant to its evaluation of a companys financial performance and when applicable information is available, the Adviser considers financially material environmental, social and/or governance issues (referred to as ESG) which may impact the prospects of an issuer or long-term stock price performance of a company. When considered, one or more ESG issues are taken into account alongside other factors in the investment decision-making process and are not the sole determinant of whether an investment can be made or will remain in the Funds portfolio. The Adviser generally considers selling a portfolio holding based upon the relative valuation ranking of securities in the investment universe. Show less